Sound Energy to start three well exploration campaign in Morocco
Source - SMW
Sound Energy, the Moroccan upstream gas company, has provided details of its 2018 work programme and an update on its acquisition of geophysical and geological data in Eastern Morocco.
James Parsons, Sound Energy's chief executive officer, said early results of its geophysical and geological studies underscore its confidence in the Eastern Morocco exploration potential.
"We are now moving forward with our exploration drilling programme with a view to unlock three of our largest plays. Success at any one of these wells, together with the emerging seismic results, will likely be a step change in this new hydrocarbon province, and build significant new value for shareholders," he stated.
Sound Energy and its partners hold an approximately 28,548 Km2 exploration acreage position in Eastern Morocco, including the company's existing discovery at Tendrara. The company drilled two successful wells there in 2016 and 2017, which established the economic gas potential in the TAGI (Triassic) reservoirs at Tendrara.
A recently completed resources certification has confirmed a total mid-case 0.65 Tcf gas originally in place (GOIP) in the TE-5 Horst and mid-case contingent resources of 377 Bcf (low-mid-high 197-377-533 Bcf).
The company is pursuing the development of this discovery.
Sound Energy's internal assessment is that its Eastern Morocco licences contain exploration potential of 9-17-31 Tcf of GOIP (low, mid and high case). Geophysics, geology and drilling programmes are underway to unlock the potential of the acreage.
The final data processing of 22,800 square kilometres of recently acquired aerial gradiometry data has now been completed and modelling of that data is expected to conclude by the end of February 2018.
Seismic acquisition is also underway, with over 30% of the planned 2,900 line kilometre survey already completed. The seismic will provide additional insights into the basin and is being used to delineate and de-risk new exploration targets for drilling.
The overall seismic acquisition programme is planned to be completed by August 2018 with the final processed products delivered to the company in October 2018.
During 2018 the company plans to start a three well exploration campaign in Eastern Morocco, subject to partner approvals. Sound Energy will leverage the recently acquired and to be acquired geophysical data and the insights from its 2016-17 drilling programme, in order to test three independent play types.
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